ME Bank has extended an olive branch to its customers after many were left shocked when thousands of dollars were transferred from redraw facilities onto existing mortgages.
ME Bank CEO Jamie McPhee said in a statement that management had decided to change back home loan redraw limits for any customers who wanted it. "Some of our customers have told us they want their redraw limits changed back to what they were before. We are going to do that," he said. "Our priority now is to help, support and service our customers. We recognise that we need to do better, we can and we will."In an earlier statement, ME Bank said the adjustments were made after analysis showed a group of customers on the older home loan product were at risk of going above their scheduled home loan balance if they were to activate the full redraw facility.
Pretty sure this would not have occurred in previous CEO, incumbent doesn’t have a radar
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